GLOBAL MARKETS-Inflation woes spook US stocks; USD, Treasury yields jump Reuters 2 hrs ago
Popular Searches U.S. Treasury yields jump on inflation data Expectations of rising real rates boost dollar World FX rates https://tmsnrt.rs/2RBWI5E
By Koh Gui Qing
NEW YORK, May 12 (Reuters) - U.S. stocks slumped on Wednesday and benchmark Treasury yields jumped after data showed consumer prices unexpectedly rose by the most in nearly 12 years in April, prompting bets on earlier interest rate hikes.
Moments after data showed the U.S. consumer price index jumped 0.8% last month, outpacing a 0.2% forecast, the dollar spiked, and by midday had further extended its gains as expectations of rising real interest rates lifted the currency.
Inflation woes spook US stocks; USD, Treasury yields jump
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
GLOBAL MARKETS-Inflation woes hobble US stocks, dollar cling to lows Reuters 3 days ago
Popular Searches Inflation angst lingers across assets Commodities take breather after rapid rise Global asset performance http://tmsnrt.rs/2yaDPgn World FX rates http://tmsnrt.rs/2egbfVh
By Koh Gui Qing
NEW YORK, May 11 (Reuters) - U.S. stocks fell on Tuesday as speculation that rising inflation pressure could prompt interest rate hikes sooner rather than later dragged on shares and hobbled the dollar, which struggled at a 2-1/2-month low.
Technology stocks were among the biggest losers, mirroring a sell-off in other technology stocks overnight in China, where talk of tighter regulation sent shares skidding.
U.S. Justice Department probing Kabbage, fintechs over PPP loan calculations -sources
By Koh Gui Qing and Pete Schroeder
Reuters
WASHINGTON (Reuters) -The U.S. Department of Justice is investigating whether financial technology companies including Atlanta-based Kabbage Inc may have erred while distributing billions of dollars in pandemic aid to struggling small businesses, three people with knowledge of the matter told Reuters.
The investigation, led by the Justice Department s civil division, is examining whether Kabbage and other fintech companies miscalculated how much aid borrowers were entitled to from the Paycheck Protection Program (PPP) due to confusion over how to account for payroll taxes, the three people said.
Message :
Required fields
WASHINGTON (Reuters) - The U.S. Department of Justice is investigating whether financial technology companies including Atlanta-based Kabbage Inc may have erred while distributing billions of dollars in pandemic aid to struggling small businesses, three people with knowledge of the matter told Reuters.
The investigation, led by the Justice Department s civil division, is examining whether Kabbage and other fintech companies miscalculated how much aid borrowers were entitled to from the Paycheck Protection Program (PPP) due to confusion over how to account for payroll taxes, the three people said.
A fourth person with direct knowledge of the matter said a number of fintechs were being probed over the PPP tax issues but declined to provide names.
vimarsana © 2020. All Rights Reserved.